Question

Write a 650-word essay to discuss how a culture of innovation and competitiveness in the manufacturing or service sector can significantly contributes to a higher economic growth.

Answer 1

Innovations are generally developed in a culture of innovation, that gives the free space for the creativity. When we analyze the facts, we are clear that culture of the company is formed by the relationship and the actions of the employees within that company. This is not actually directly formed, but these culture is indirectly formed with the values, attitudes, norms that the employees collaterally shared. So all these things are inter related and they depend on each other.

Actually what does the word innovation means? Innovation means that the thing is to be available in it's much better form than it exist in today. Every day there exists numerous ways to create improvement over the things

present here. The culture of innovations is a part or specific form of corporate Culture, which targets at the Development of the innovations within the company.

In reality there exists three dimensions for the innovations. And the three dimensions are; firstly there must be an innovative ability that means to generate an innovation and secondly there must exist an innovative willingness that is to execute the plan in a right manner and finally the innovative potential, which means the ability to lead this innovative idea or plan. And these three dimensions lie in contact with each other and these three dimensions cannot stand alone.

In order to generate the ideas and result these in the right way, which means an expected proper result, the employees must be supported and promoted in great extend. To ensure this there must be a promoting team and also there must be a team to Increase the innovative ability of the employee. And the training sessions and workshops will ensure this and to ensure the willingness there must be some dedicated employees who think differently from the usual pattern. Especially the team leader or the head must be person who support such innovations and promote these ideas, which are deviated from the usual pattern but to make a useful progress. The frame work of the company is also a basic thing which promotes such innovations, which clears about the proper utilization of time and how workers can involve in such ideas without interrupting the usual frame work of the company.

Competitiveness is the ability of the firm or the company to participate in the economy and the existence of the company. And also it is evaluated with the technology, skills and the labor that they now employed and also compares with the existing advanced technology, and the skills that the other company's employed. The competitiveness among them is an important factor, which leads to the economic development.

The globalization and the industrialization has created a tremendous change in this competitive ability, and we witness a huge increase in the competitive ability. And this has resulted a great progress to the growth of economy and result in the economic development.

Necessity is the mother of invention, like that only new innovations can lead us to a better tomorrow. And every innovative ideas are a real asset to our economy for it's smooth movement and progress. Similarly the competitiveness among the companies also contributed a valuable part to this achievement. We must update our ideas, technologies, gadgets and all other things at proper intervals and like that innovation is the key stone to promote such development in it's extended form.